Case Summary
Canara Bank filed a suit against Vipin V.R. and Raveendran Nair for the recovery of outstanding loan amount. The defendants defaulted on loan repayments and are liable for the amount due.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff entitled to realize Rs.4,39,088/- with interest.
Case Type
Civil Suit
Final Judgment
No
The court found in favor of Canara Bank for the recovery of Rs.4,39,088/- with interest from the defendants. The defendants were deemed jointly and severally liable.
Why Plaintiff Won:
The plaintiff proved the case with unchallenged testimony and relevant documents.
The plaintiff proved the case with unchallenged testimony and relevant documents.
Losing Side's Weaknesses:
The plaintiff proved the case with unchallenged testimony and relevant documents.
The plaintiff proved the case with unchallenged testimony and relevant documents.
Supporting Evidence
The case of the plaintiff is proved by the unchallenged testimony of the PW1 and the documents produced by him.
Judgment Evidence:
In the result, the suit is decreed as follows: 1. The plaintiff shall be entitled to realize Rs.4,39,088/- (Rupees four lakhs thirty nine thousand and eighty eight only ) from the defendants with interest at the rate of 11.5 percent from date of suit till date of decree...
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Canara Bank
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Vipin V.R.
- Party Age
- 43
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Raveendran Nair
- Party Age
- 78
- Relation
- S/o
Plaintiffs Documents
Loan Application dated 26.06.2015, Sanction Letter dated 27.07.2015, Hypothecation Agreement dated 26.06.2015, Guarantee Agreement dated 27.06.2015, Acknowledgment of Debt dated 15.05.2018, Acknowledgment of Debt dated 28.02.2020, Acknowledgment of Debt dated 28.03.2022, Account statement dated 18.12.2023
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. B.R.Rajeev
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff entitled to realize Rs.4,39,088 from the defendants.
Evidence:
In the result, the suit is decreed as follows: The plaintiff shall be entitled to realize Rs.4,39,088/- (Rupees four lakhs thirty nine thousand and eighty eight only ) from the defendants with interest at the rate of 11.5 percent from date of suit till date of decree and with future interest at the rate of 6 percent from the date of decree till date of realization.
Relief Type:
Costs
Outcome:
Granted
Description:
The defendants shall pay costs of the proceedings to the plaintiff.
Evidence:
The defendants shall pay costs of the proceedings to the plaintiff.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Document related to the loan application submitted by the defendants.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Document confirming the loan amount sanctioned to the defendants.
Reference:
Ext.A2
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Legal agreement securing the loan against the defendants' assets.
Reference:
Ext.A3
Document Type:
Guarantee Agreement
Submitted By:
Plaintiff
Relevance:
Document establishing the guarantee for the loan provided.
Reference:
Ext.A4
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Document acknowledging the debt owed by the defendants on the specified date.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Document acknowledging the debt owed by the defendants on the specified date.
Reference:
Ext.A6
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Document acknowledging the debt owed by the defendants on the specified date.
Reference:
Ext.A7
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Document showing the account statement related to the defendants' loan.
Reference:
Ext.A8
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Recovery of money
Case Code
Case between Canara Bank vs Vipin V.R. et al regarding realization of money
Case Code Year
Case between Canara Bank vs Vipin V.R. et al regarding realization of money